Ayayai Corporation is authorized to issue common and $3 convertible preferred shares. Each preferred share is convertible into four common shares. On July 2, the company issued 126,000 preferred shares for $110 per share. The common shares were trading at $25.00 on September 7, $27.50 on September 19, and $29.00 on September 28. Journalize the conversion of the preferred shares on September 19. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.)

Date	Account Titles	Debit	Credit
Sept. 19	enter an account title for the journal entry on September 19	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on September 19	enter a debit amount